02-04: Implementation of Senate Bill 193 (Producer Licensing Act)

To:               All Insurance Companies, Licensed Agents, Brokers and Agencies

From:          John M. Huff, Director Missouri Department of Insurance

Re:              Implementation of Senate Bill 193 (Missouri Single Producer Licensing Act)

Date:           June 14, 2002

Updated:    February 19, 2009

In 2001 the Missouri Legislature passed Senate Bill 193 which Governor Holden signed into law. This legislation contained substantial revisions to the licensing provisions of chapter 375 of the Revised Missouri Statutes. Implementation of this act will take effect on January 1, 2003.

This bulletin outlines major provisions of the act to aid companies and licensees in understanding the revised licensing requirements under the law. This bulletin is for informational purposes only and is not intended to be an exhaustive analysis of statutory changes to the insurance code. Please review the insurance laws in their entirety to assure your compliance when transacting Missouri insurance business. You can access this bill at http://www.house.mo.gov/billtracking/bills01/bills01/sb193.htm.

Major Provisions of Senate Bill 193 (Single Producer Licensing Act)

Effective January 1, 2003

Please contact the Department's Licensing Section at (573) 751-3518 should you have any questions regarding this bulletin.